Cebu Pacific 2016 net profit doubles to US$196m
Cebu Pacific Air posted a PHP9.8b (US$196.4m) net profit in 2016, more than doubling the company’s PHP4.4b net income reported in 2015. Cebu attributed the growth to increased passenger demand and growth in ancillary revenues. The airline opened up new intra-regional routes during the year in the Visayas island region of the country, as well as service between the western Visayas city of Kalibo and Incheon, South Korea and direct service to Guam. Additionally, in May 2016 Cebu became one of the founding members of the Value Alliance, an alliance of 8 Asia-Pacific LCCs. Cebu’s total group revenue in 2016 rose 9.6% to PHP61.9b, compared to PHP56.5b in 2015. Passenger revenues increased 9.2% YOY to PHP3.9b and ancillary revenues were up 13.4% YOY to PHP1.4b. <br/>
https://portal.staralliance.com/cms/news/hot-topics/2017-04-05/unaligned/cebu-pacific-2016-net-profit-doubles-to-us-196m
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Cebu Pacific 2016 net profit doubles to US$196m
Cebu Pacific Air posted a PHP9.8b (US$196.4m) net profit in 2016, more than doubling the company’s PHP4.4b net income reported in 2015. Cebu attributed the growth to increased passenger demand and growth in ancillary revenues. The airline opened up new intra-regional routes during the year in the Visayas island region of the country, as well as service between the western Visayas city of Kalibo and Incheon, South Korea and direct service to Guam. Additionally, in May 2016 Cebu became one of the founding members of the Value Alliance, an alliance of 8 Asia-Pacific LCCs. Cebu’s total group revenue in 2016 rose 9.6% to PHP61.9b, compared to PHP56.5b in 2015. Passenger revenues increased 9.2% YOY to PHP3.9b and ancillary revenues were up 13.4% YOY to PHP1.4b. <br/>
